Fashion
India’s GDP growth to moderate to 6.9% in FY27: Ind-Ra
Domestic reforms, including the income tax cut announced in the FY26 budget, GST rationalisation and recently concluded trade agreements with Oman, the UK and New Zealand, would help cushion external headwinds, Ind-Ra said.
India Ratings and Research has projected India’s GDP growth to slow to 6.9 per cent in FY27 from an estimated 7.4 per cent in FY26, citing global trade weakness, US tariffs and weather risks.
Domestic reforms, tax cuts and GST rationalisation are seen supporting consumption and investment, while inflation is projected to remain within the RBI’s target, allowing limited further rate cuts.
Consumption is expected to remain the key demand driver, with private final consumption expenditure projected to grow 7.6 per cent in FY27, supported by low inflation, improving real wages and tax relief. Investment growth is forecast at 7.8 per cent, led mainly by sustained government capital expenditure, while private capex may be uneven across sectors.
Ind-Ra noted that while US tariffs on Indian goods remain elevated, their overall impact on growth is now lower than earlier estimates. The International Monetary Fund expects global GDP growth of 3.2 per cent in 2025, marginally below previous forecasts.
Inflation is projected to stay benign, with CPI averaging 3.8 per cent in FY27, within the Reserve Bank of India’s target range. Ind-Ra expects limited further policy easing, with rate cuts unlikely to exceed 25 basis points.
On fiscal metrics, the agency expects the Union government’s debt-to-GDP ratio to decline to 55.5 per cent in FY27, while the current account deficit is projected to widen slightly to 1.5 per cent of GDP, amid higher imports and export volatility driven by US trade policies.
“Major headwinds include: i) the El Niño pattern from mid-2026, ii) a weak currency due to weak capital flows, iii) sluggish global trade growth, iv) strong growth in FY26 (base effect), and v) slower growth of net production taxes due to GST rationalisation. Another emerging headwind is artificial intelligence,” said Dr. Devendra Kumar Pant, chief economist and head public finance, Ind-Ra.
Fibre2Fashion News Desk (HU)
Without seasonal adjustment, the number of persons in employment rose slightly by 7,000 month- on-month. This increase was weaker than the average rise typically recorded in November between 2022 and 2024, signalling softer labour market momentum towards the end of the year, Destatis said in a press release.
On a year-on-year (YoY) basis, employment in November 2025 was 51,000 lower than in November 2024, representing a decline of 0.1 per cent. This continued the mild downward trend observed since July, with similar annual declines recorded between August and October.
Germany’s employment held steady at around 46 million people in November 2025, with seasonally adjusted figures virtually unchanged MoM, according to Destatis.
Employment was 0.1 per cent lower year on year, extending a mild downward trend.
Unemployment rose to 1.64 million, up 11.6 per cent from a year earlier, while the adjusted jobless rate remained stable at 3.8 per cent.
Unemployment, however, showed a clearer increase. The labour force survey indicated that 1.64 million people were unemployed in November, up by 171,000, or 11.6 per cent, compared with a year earlier. The unemployment rate rose to 3.7 per cent, up 0.4 percentage points YoY.
After adjusting for seasonal and irregular effects, unemployment stood at 1.67 million, an increase of 7,000 from October. The adjusted unemployment rate remained unchanged at 3.8 per cent, suggesting limited short-term movement despite rising annual pressures.
Fibre2Fashion News Desk (SG)
Published
January 9, 2026
Next said Friday that Jane Shields, its group sales, marketing and HR director, is planning to retire from the company in May.
She’ll step down from the board on 21 May with the company saying she retires “after 40 years of outstanding service”. She actually joined as a sales assistant way back in 1985, was promoted to sales director 14 years later, then group sales & marketing director in 2010. She joined the board three years after that.
So who’s taking her role? Matt Barnes will be promoted to the role of group sales and marketing director and “will take on most of Jane’s operational remit”. That means e-commerce, brand marketing, retail stores and online customer services.
Barnes is another company veteran who joined in 1999. He’s currently online customer service director and won’t be joining the board “at this stage”.
Meanwhile the company also announced some non-exec director board changes with Jonathan Bewes, senior independent director and chairman of the Audit Committee, set to retire from the board on 21 May after a nine-year tenure.
Annette Court and digital specialist Jeni Mundy will be appointed as independent non-executive directors with effect from 1 March and 1 April, respectively. Court will be appointed as senior independent director from 21 May. Soumen Das is also being appointed Audit Committee chair at the same time.
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